Associated British Foods’ share price falls as Primark sales fail to sweeten sugar business April 21, 2015 The figures Primark owner Associated British Foods (ABF) felt the pinch from falling sugar prices in its first half, with pre-tax profit across the group halving to £213m for the six months to the end of February, compared with £434m during the same period last year. The news caused shares in ABF to open three per cent down. [...]
Zara founder Amancio Ortega’s buying spree on Oxford St April 12, 2015 The billionaire founder of Spanish clothing empire Inditex has snapped up a cluster of buildings on the east end of London’s Oxford Street. Amancio Ortega, who founded the fashion giant Zara in 1975, is understood to have bought a development at 26-48 Oxford Street from property companies Land Securities and Frogmore through his investment vehicle [...]
FTSE hits a high but slips back despite UK inflation data – London Report March 24, 2015 ANOTHER day, another all-time high was the call yesterday for Britain’s top share index – although it did slip back at the close – and record low UK inflation data kept investors confident over the market’s longer-term prospects. The blue-chip FTSE 100 index rose as much as 0.4 per cent to a record intraday high [...]
John Lewis is named the retailer with the strongest reputation March 19, 2015 Middle-class shoppers’ favourite John Lewis was yesterday declared the retailer with the best reputation in Europe, the Middle East and Africa (EMEA), a survey found. The survey, by the Reputation Institute, also showed that among the firms whose reputation had improved the most between 2013 and 2014 were WH Smith and H&M. However, there was bad [...]
Sir Philip Green sold BHS for £1 – but can the high street stalwart be salvaged? March 16, 2015 It’s a rare day when retail mogul and the official patron saint of lost causes Sir Philip Green decides to throw in the towel. The tycoon’s decision last week to back out of BHS after 15 years of ownership and offload it to a previously unknown group of investors for £1 set the City’s retail [...]
Sir Philip Green lets go of loss-making BHS for £1 only March 13, 2015 Struggling retail chain BHS is to be sold for £1 after almost 15 years in the possession of billionaire Arcadia chairman Sir Philip Green. The iconic chain of department stores was founded in 1928 by American entrepreneurs seeking emulate the success of Woolworths. But the company has declined in recent years as it lost market [...]
New Look adds to regeneration of east end of Oxford Street March 4, 2015 FASHION retailer New Look is to open a flagship store at the east end of Oxford Street, helping to drive further change at the notoriously dowdy end of London’s largest shopping street. Property firm Great Portland Estates said yesterday that it has pre-let a third of its huge 90,500 square feet development at 73-89 Oxford [...]
Associated British Foods feasts on Primark but diets on sugar February 23, 2015 SHOPPERS snapping up more bargains at Primark over the last eight weeks helped to offset a weak performance at Associated British Foods’ (ABF) sugar business, the consumer giant said yesterday. Sales at clothing retailer Primark in the half-year to 28 February are expected to rise by 16 per cent on a constant currency basis, due [...]
New Look hires JPMorgan as it eyes £2bn float February 23, 2015 Fast fashion chain New Look has taken a step closer to an initial public listing (IPO), having hired JP Morgan to work on options for a flotation. Reports suggest the retailer, which is currently owned by private equity firms Apax and Permira as well as founder Tom Singh, could be valued at as much [...]
Primark sales climb – but sugar division remains bitter for Associated British Foods February 23, 2015 Associated British Foods is expecting good things from Primark when it reports its full year figures in April – but its sugar division continues to dampen the group's overall performance. The fast fashion chain is ABF's jewel in the crown. Sales are expected to be up 16 per cent on last year, with “very [...]